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Back in the spring and early summer of 2022, Atlassian was forecasting that its cloud business would grow 50% in each of the next two fiscal years. But the challenging macro environment made this forecast unrealistic rather quickly. The formidable cloud unit, with greater than 250,000 customers, is already showing stabilization as evidenced by the FQ4 results. Management on the earnings call said it looks for cloud growth to improve throughout the year, assisted by easier quarterly comparisons.
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